Chipmaker GlobalFoundries announced today that it has formally committed to building a $4.2 billion manufacturing facility on the Luther Forest Technology Campus in Malta, and set a date for the land purchase.
The letter of commitment clears the way for $1.2 billion in state cash and tax breaks to begin being transferred to the company. AMDwho spun off its manufacturing elements into GlobalFoundries in Marchmade an informal commitment to build in Malta last year.
GloFo said this morning that the purchase of 223-acres of land at LFTC has been scheduled for Wednesday, June 10, and that it has authorized consultant M+W Zander to begin accepting site development bids starting Monday, June 15. An official groundbreaking ceremony is slated for sometime in July.
Last week, Gov. David Paterson announced that an agreement between GlobalFoundries and local labor groups had been struck.
Construction of the facility is expected to take about two years. Once fully operational, it will employ 1,500. Construction will involve about 1,600 jobs, in addition to 2,700 construction-related jobs.""